Cornerstone Wealth Management LLC Grows Position in Realty Income Corporation (NYSE:O)

Cornerstone Wealth Management LLC increased its position in shares of Realty Income Corporation (NYSE:O) by 18.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,840 shares of the real estate investment trust’s stock after buying an additional 758 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Realty Income were worth $281,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. purchased a new position in shares of Realty Income during the fourth quarter worth about $28,000. Hopwood Financial Services Inc. purchased a new position in shares of Realty Income during the fourth quarter worth about $29,000. Millstone Evans Group LLC purchased a new position in shares of Realty Income during the fourth quarter worth about $34,000. Fourth Dimension Wealth LLC purchased a new position in shares of Realty Income during the fourth quarter worth about $34,000. Finally, BankPlus Trust Department purchased a new position in shares of Realty Income during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Realty Income Price Performance

O stock opened at $57.24 on Friday. Realty Income Corporation has a 1 year low of $50.71 and a 1 year high of $64.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.74 and a current ratio of 1.74. The stock’s 50 day moving average price is $56.74 and its 200 day moving average price is $55.58. The firm has a market cap of $51.70 billion, a P/E ratio of 52.04, a PEG ratio of 4.02 and a beta of 0.76.

Realty Income (NYSE:O) last posted its earnings results on Monday, May 5th. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.06. Realty Income had a return on equity of 2.51% and a net margin of 18.15%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company earned $1.03 EPS. Realty Income’s revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts expect that Realty Income Corporation will post 4.19 earnings per share for the current fiscal year.

Realty Income Increases Dividend

The business also recently announced a jul 25 dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a $0.269 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a yield of 5.6%. This is a positive change from Realty Income’s previous jul 25 dividend of $0.27. Realty Income’s dividend payout ratio is presently 292.73%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on O shares. UBS Group lowered their price objective on Realty Income from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Wedbush reaffirmed a “neutral” rating and issued a $61.00 price objective on shares of Realty Income in a report on Wednesday, May 7th. Stifel Nicolaus lifted their price objective on Realty Income from $65.50 to $68.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price objective on Realty Income from $64.00 to $61.00 and set a “neutral” rating on the stock in a report on Monday, May 5th. Finally, Royal Bank Of Canada lowered their price objective on Realty Income from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Realty Income presently has a consensus rating of “Hold” and a consensus price target of $61.15.

About Realty Income

Realty Income, The Monthly Dividend Company, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats index. We invest in people and places to deliver dependable monthly dividends that increase over time. The company is structured as a real estate investment trust (“REIT”), and its monthly dividends are supported by the cash flow from over 15,450 real estate properties (including properties acquired in the Spirit merger in January 2024) primarily owned under long-term net lease agreements with commercial clients.